Commodity:
Uranium
Size:
6,282 acres
Location:
San Juan County, Utah
JV Partnership:
Option to acquire 90% interest
PROJECT Overview
The 6,282-acre Wray Mesa project is comprised of 308 unpatented lode claims in San Juan County, Utah. The Property is accessible via Utah State Highway 46 and unpaved Forest Service Roads, with access to power, water and proximal to the town of La Sal. The Property is contiguous to and adjoins Energy Fuel’s (EFR-T, UUUU-NYSE) fully-permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines (production of 550,000 lbs U3O8 in 2012). The La Sal project is host to Measured & Indicated resources of 4.1 Mlb of uranium (U3O8) plus 21.5 Mlb of vanadium (V2O5) plus Inferred resources of 0.4 Mlb of uranium plus 1.9 Mlb of vanadium (source: Technical Report on the La Sal District Project. Prepared for Energy Fuels Inc. by D.C. Peters and dated 2014-Mar-25). Nexus Uranium has an option to acquire a 90% interest in the project from Basin Uranium.
PRoject History
Ajax
Most heavily drilled and tightest spacings with some holes 25 to 50 feet apart. A total of 164 historic holes drilled which defined mineralization a 1,200 by 25-75 metre area. Thirty (30) holes returned grades in excess of 0.1% eU3O8.
Dylan
Best defined with drilling on a 100 by 100-foot grid. Thirty-nine holes were drilled in 1976 to 1983 with follow-up drilling in 2007 which defined mineralization over a 500 metre by 40-100 metre area. Seven (7) holes returned grades in excess of 0.2% eU3O8.
Whiskey
A total of 29 holes drilled at 100-foot spacings with a number of holes intersecting significant mineralization and defining an area of 400 by 10-70 metres. Further follow-up and more systematic drilling is required.
Carlin
While complete historical records are unavailable, based on limited data mineralization was defined over a 150 by 20-70 metre area.
Tim Henneberry, P.Geo, consultant to for Basin Uranium is the Qualified Person as defined by National Instrument 43-101 and has approved the technical information on this website.